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China Closes More Than 2,000 Energy Intensive Industries
Issue 33, August 15, 2010
By KTM Metro Reporter
August 9, 2010: China has quietly published a notice stating to close 2,087 steel mills, cement works and other energy-intensive factories by Sept. 30, the New York Times reports.
The Chinese authorities have the twin goals of closing such industries: energy efficiency and relinquishing the state ownership of manufacturing industries closing down uncompetitive and obsolete state-owned industries. Thus, China is moving to the complete economic liberalization and privatization. However, they will face the unemployment of hundreds of thousands of workers these industries have been employing. They need to consider an alternative employment opportunities to the workers laid off by the closure of such industries.
